LNG

French major TotalEnergies reported a 43 percent increase in third-quarter net profits to $6.6 billion, driven by its liquefied natural gas business even with taking a $3Bln hit over Russian assets and temporary problems affecting supplies from liquefaction plants in Egypt, Nigeria, Australia and the US.

European major Total said its LNG sales increased by 22 percent in the second quarter compared with last year, notably due to an increase in trading activities, while the group posted an overall net loss of more than $8 billion because of assets impairments caused by the oil slump and Covid-19.